MGM Considers Making A Better Offer To Acquire UK Based Entain June 4, 2021 Mike Ashley

MGM Considers Making A Better Offer To Acquire UK Based Entain

MGM Resorts International and EntainMGM Resorts International appears to be very keen on acquiring UK giant Entain – formerly known as GVC Holdings. MGM Resorts first made its interests clear in 2020 when it made a $10 billion offer to acquire Entain. The offer was turned down as Entain felt that it was too low.

MGM went ahead and made a second offer in early Jan 2021. This time around, Entain was offered $11 billion from MGM Resorts. Entain did not take long to discuss the offer with its board and make a decision that it would not sell.

Once again, Entain felt that the offer from MGM Resorts was a little too low. Entain made it clear that the offers coming across from MGM undervalued the UK betting giant.

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Entain owns a number of big brands including party casino & partypoker – which is the second biggest online poker site in the world and Bwin. MGM Resorts is keen on boosting its online gaming portfolio and an acquisition of Entain and its list of impressive online gaming brands will give MGM Resorts a lot of leverage in the global iGaming market.

This is why MGM Resorts is not willing to walk away from the acquisition anytime soon. Reports suggest that MGM Resorts is once again talking with its shareholders in an attempt to sweeten the offer to Entain.

MGM Resorts will hope that the third time is the charm and it will be able to complete an acquisition that will turn MGM Resorts into a huge gambling operator in both the land based and iGaming spaces. One of MGM Resort’s biggest shareholders, IAC/InterActiveCorp is keen on the acquisition and is willing to pump in more funds so that MGM can make a more attractive offer.

MGM Frontrunner for Entain Acquisition

MGM Resorts and Entain have worked together since 2018. The two operators are familiar with each other’s business interests and portfolio. Entain’s share prices have dropped slightly in Jan 2021 but the company is still sticking to its guns and waiting for a better offer from MGM.

Jason Ader, who owns SpringOwl Asset Management, says he is confident that MGM Resorts will make a better offer the third time as MGM Resorts is the ideal buyer when it comes to Entain’s portfolio.

Given the speed that MGM Resorts is working at, don’t be surprised if the third offer is made in a couple of weeks.

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Hi, I'm Mike Ashley, an avid follower of the UK gambling scene and an online gaming expert with over 15 years of experience. Welcome and thanks for visiting my website which focuses on helping players who are unclear as to where they can gamble due to Gamstop bans. We provide useful guides and an array of options that have been tested and reviewed...